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Real-time News
August 9th - Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, stated that the national CPI rose 0.5% year-on-year, maintaining a moderate increase. The year-on-year CPI increase was 0.5 percentage points lower than the previous month, mainly due to the slower increase in gasoline prices. Gasoline prices rose 1.0%, a decrease of 16.0 percentage points from the previous month, reducing its upward impact on the CPI by approximately 0.45 percentage points, thus driving the energy price increase down to 0.6%. Excluding energy, industrial consumer goods prices rose 1.5%, a decrease of 0.2 percentage points from the previous month, contributing approximately 0.37 percentage points to the year-on-year CPI increase. Among these, prices for gold jewelry, personal care products, and household appliances rose by 24.6%, 1.7%, and 0.2% respectively, all with slower increases, contributing a combined approximately 0.13 percentage points to the year-on-year CPI increase; while prices for computers, tablets, and mobile phones rose by 17.4%, 17.2%, and 8.5% respectively.August 9th - Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, stated that on a month-on-month basis, the national CPI decreased by 0.1%, a narrowing of 0.2 percentage points compared to the previous month. Fluctuations in international market prices led to a 10.7% decrease in domestic gasoline prices, a larger decline than the previous months 5.8 percentage points, contributing to a month-on-month decrease in CPI of approximately 0.35 percentage points. Artificial intelligence is driving the upgrading of consumer electronics products, increasing demand and prices for related products. Tablet computers, computers, and mobile phones saw price increases of 11.3%, 5.5%, and 1.0% respectively, contributing a combined 0.03 percentage point to the month-on-month CPI increase. In the services sector, increased summer travel demand led to price increases of 7.2%, 6.5%, 4.2%, and 3.6% for travel agency fees, hotel accommodations, airfares, and transportation rentals respectively, contributing a combined 0.10 percentage point to the month-on-month CPI increase.Chinas July CPI annual rate will be released in ten minutes.Chinas July CPI annual rate will be released in ten minutes.On August 9th, regarding Fridays unexpectedly negative US non-farm payroll data, Rick Reid, Chief Investment Officer of BlackRocks Global Fixed Income division, stated that last months weaker-than-expected employment data reflects the "productivity revolution" of the artificial intelligence era. He believes the decline in non-farm payrolls reflects that US companies are learning how to expand output without increasing the number of employees. He said, "I dont think adjusting the overnight federal funds rate will really solve the problem—weve seen this before… I just think that raising rates now doesnt make much sense."
